Microfinance Loans

Under a partnership between Microfinance Ireland and the Local Enterprise Offices, Business Loans are now available through the Local Enterprise Office South Dublin.

Click here for information on the MFI Small Loan Scheme.

  • • Unsecured loans from €2,000 up to €25,000
  • • Term from 3 to 5 years
  • • Reduced Interest Rate 6.8% APR for LEO clients
  • • Flexibility on repayment terms

You can quickly check if you are eligible to apply for a grant and calculate your loan repayments by completing the Eligibility Survey and Loan Repayment Calculator on the Microfinance Ireland website

The loans are provided and underwritten by our partner organisation Microfinance Ireland and application may be made through the Local Enterprise Office South Dublin and will be in the first instance assessed locally. Microfinance Ireland was established by the Government to provide additional lending to start-up and existing micro enterprises. The final decision for all loan applications is made by Microfinance Ireland. Loans are repayable to Microfinance Ireland according to the terms and conditions set out by Microfinance Ireland.

Sole Traders, Partnerships and Limited Companies with fewer than 10 employees and an annual turnover of less than €2m are eligible to apply. Unlike some of the other financial supports available from Local Enterprise Office South Dublin, all business sectors are eligible to apply. Loans can be used to fund start-ups, existing and growth microenterprises and can be used for working capital or the hiring of new employees, the purchase of stock, equipment, machinery and business vehicles.

By applying you will get:

  • • 1% reduction on normal interest rate of 7.8% APR
  • • Assistance and feedback on application
  • • Business advice and support

Microfinance will require Irish Credit Bureau Reports for the primary promoters (have more than 25% shareholding in the business or are receiving a wage from the business) up front from the 1st of November 2016. Any application submitted without an ICB Report will be registered as incomplete and returned to the specific LEO.

If you would like to apply for a loan please call us on 01 4149000 ext. 3305 or download the application form here and email it to Local Enterprise Office South Dublin at info@leo.sdublincoco.ie

 

 

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